France offers 80mn euro credit for Himachal hydro power plants

France on Tuesday inked an 80 million euro credit facility agreement with India for the development of two hydroelectric power plants in Himachal Pradesh, an official statement said.

Department of Economic Affairs (DEA) Joint Secretary Selvakumar and the French Development Agency (AFD) Deputy Director in India Herv Dubreuil signed the credit facility agreement of 80 million euros for the development of hydroelectric power in Himachal Pradesh, said a statement from the French Embassy.

The programme will finance two run-of-river hydroelectric plants, namely Deothal Chanju HEP (30 MW) and Chanju III HEP (48 MW) situated in the Chanju river basin.

The project aims to provide 78MW of renewable energy, which will generate 280 GWh of electricity per year and reduce annual greenhouse gas emissions.

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